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Dealer’s Diary
The key benchmark indices edged higher in early trade, ahead of the
Union Budget 2011–12. Indices surged to hit fresh intraday highs after the
Finance Minister (FM) made key announcements, including a positive nod to FIIs
to invest in mutual fund schemes and raising the FII investment limit in
corporate bonds to US $40bn. Driven by favourable announcements in the
Budget, the Sensex soared 485 points in the mid-afternoon session. However,
the market wiped off a major component of post-Budget gains in the late
trading session. The market settled on a positive note with the Sensex and Nifty
gaining 0.7% and 0.6%, respectively. The mid-cap and small-cap indices also
gained 0.3% and 0.4%, respectively. Among the front liners ITC, M&M, Maruti,
ONGC and Sterlite gained 2–8%, while Reliance Infra., JP Associates, Hero
Honda, Tata Motors and Tata Power lost 2–4%. Among mid caps, Sadbhav
Engg., Godfrey Philips, City Union Bank, Anant Raj Industries and A2Z Maint. &
Engg. gained 7–9%, while Glenmark Pharma, BGR Energy, Patel Engg., Jain
Irrigation and Thermax lost 6–10%.
Markets Today
The trend deciding level for the day is 17946 / 5373 levels. If NIFTY trades
above this level during the first half-an-hour of trade then we may witness a
further rally up to 18174 – 18524 / 5437 - 5541 levels. However, if NIFTY
trades below 17946 / 5373 levels for the first half-an-hour of trade then it may
correct up to 17596 – 17369 / 5269 - 5205 levels.
India Equity Research Reports, IPO and Stock News
Visit http://indiaer.blogspot.com/ for complete details �� ��
Dealer’s Diary
The key benchmark indices edged higher in early trade, ahead of the
Union Budget 2011–12. Indices surged to hit fresh intraday highs after the
Finance Minister (FM) made key announcements, including a positive nod to FIIs
to invest in mutual fund schemes and raising the FII investment limit in
corporate bonds to US $40bn. Driven by favourable announcements in the
Budget, the Sensex soared 485 points in the mid-afternoon session. However,
the market wiped off a major component of post-Budget gains in the late
trading session. The market settled on a positive note with the Sensex and Nifty
gaining 0.7% and 0.6%, respectively. The mid-cap and small-cap indices also
gained 0.3% and 0.4%, respectively. Among the front liners ITC, M&M, Maruti,
ONGC and Sterlite gained 2–8%, while Reliance Infra., JP Associates, Hero
Honda, Tata Motors and Tata Power lost 2–4%. Among mid caps, Sadbhav
Engg., Godfrey Philips, City Union Bank, Anant Raj Industries and A2Z Maint. &
Engg. gained 7–9%, while Glenmark Pharma, BGR Energy, Patel Engg., Jain
Irrigation and Thermax lost 6–10%.
Markets Today
The trend deciding level for the day is 17946 / 5373 levels. If NIFTY trades
above this level during the first half-an-hour of trade then we may witness a
further rally up to 18174 – 18524 / 5437 - 5541 levels. However, if NIFTY
trades below 17946 / 5373 levels for the first half-an-hour of trade then it may
correct up to 17596 – 17369 / 5269 - 5205 levels.
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